In late February, Culver Metropolis resident David Andreone posted a photograph of his black Mannequin 3 Tesla on Fb and Instagram and supplied it on the market for $35,000. Although the posts obtained dozens of feedback, no consumers emerged.
Andreone, 59, mentioned he loves driving the automobile, however made the choice to promote after the model’s affiliation with co-founder and Chief Government Elon Musk turned an excessive amount of to bear.
Musk, broadly considered an eccentric visionary who popularized electrical autos, has occupied a distinguished place within the Trump administration because the chief of the so-called Division of Authorities Effectivity, or DOGE, since January.
As soon as a champion of local weather change activism, Musk now represents President Trump’s agenda, together with efforts to downsize the federal authorities and roll back environmental protections.
“I’ve by no means in my life purchased or leased a automobile for political causes,” Andreone mentioned. “Now I really feel like I wish to eliminate one for political causes. I’m simply sort of shocked and appalled at what he’s doing.”
Whereas Andreone is promoting his automobile, numerous different Tesla drivers are wrestling with what the automobiles stand for and in the event that they wish to be linked with the model. Some are embarrassed or ashamed by the affiliation with Musk, they mentioned, and a number of other have slapped on bumper stickers that allow individuals know they bought the automobile earlier than Musk took on his new public position.
Bateman has put a bumper sticker on the back window of his Tesla stating, “I purchased this earlier than we knew Elon was loopy.”
(Gina Ferazzi / Los Angeles Instances)
Although Musk and Tesla nonetheless dominate the electrical automobile market, the backlash towards Musk’s conservative politics could possibly be contributing to Tesla’s plunging inventory worth and falling resale values, particularly in liberal-leaning California, trade consultants mentioned.
Tesla inventory has dropped 26% during the last month and has fallen 35% 12 months thus far, reflecting issues amongst some buyers that Musk shouldn’t be spending sufficient time tending to his highest-profile enterprise.
The protests come at a pivotal time for Tesla, which was already going through a slowdown in its enterprise.
Car gross sales declined for the primary time within the firm’s historical past final 12 months, the corporate reported in January. Deliveries fell to 1.79 million, representing a drop of 1.1% from 1.81 million autos in 2023, a decline that analysts attributed to a scarcity of latest fashions in an more and more aggressive marketplace for electrical autos.
Earnings rose 3% to 73 cents a share within the fourth quarter (excluding one-time gadgets), under the 77 cents a share that analysts had estimated.
Although it’s based mostly in Austin, Texas, Tesla retains important ties to California, with a big manufacturing plant in Fremont.
A Tesla consultant didn’t reply to requests for remark.
In an effort to spice up Tesla’s reputation amongst his supporters, Trump publicly bought a brand new pink Mannequin S on the White Home garden earlier this week. It was a present of loyalty to Musk that can actually earn Tesla some followers on the correct aspect of the political spectrum, in line with consultants, however is bound to alienate others. The endorsement boosted Tesla shares, which surged 8% on Wednesday to shut at $248.09.
President Trump steps out of his new pink Tesla Mannequin S on the South Garden of the White Home on Tuesday. The acquisition was a present of loyalty to Musk.
(Related Press)
“The query is, is Musk gaining extra individuals than he’s shedding?” requested Karl Brauer, an analyst at iseecars.com. Resale costs for used Teslas may counsel there’s drastically falling demand for the autos, he mentioned.
In February, Tesla topped the record of manufacturers that misplaced essentially the most resale worth 12 months over 12 months, adopted by Maserati and Chrysler, in line with knowledge supplied by Brauer. The worth of a used Tesla Mannequin S and Mannequin Y every dropped by about 16% from February 2024 to February 2025. The worth of a used Mannequin 3 dropped 13.5% over the identical interval.
“Worth is a mirrored image of provide and demand,” Brauer mentioned. “So it could possibly be that no one needs to purchase them anymore, or that there’s an enormous inflow of them accessible, or each.”
Amid the investor worries, opponents of Trump have been organizing towards Musk and his automobile firm, holding protests throughout the nation to encourage individuals to eliminate their Teslas and denounce Musk. Others have taken out their frustration by vandalising or destroying the electrical autos and their charging stations.
In San Francisco, fliers posted across the metropolis characteristic a photograph of Elon Musk allegedly performing a Nazi salute and advise readers to “promote your swasticar.”
Musk dismissed accusations that the salute was a Nazi-era gesture and blamed the liberal information media for misconstruing his actions.
Whereas political activism towards a automobile model isn’t widespread, Brauer mentioned, it has occurred earlier than. Within the mid-2000s, as consciousness of local weather change rose, many started protesting massive gas-guzzling autos reminiscent of Hummers by throwing eggs at them.
Musk has different ventures other than electrical autos, together with spacecraft maker SpaceX, web service supplier Starlink and neurotechnology firm Neuralink. However his conservative picture is most intently tied to Teslas, and the automobiles have change into inseparable from his private model.
“Musk goes to should do a greater job of balancing his DOGE and Trump tasks versus being chief government of Tesla,” mentioned Dan Ives, an analyst at Wedbush Securities who has a purchase ranking on Tesla inventory. “If you’re so synonymous with a model, it’s a cautious stability and it’s nearly reached a tipping level.”
Ives estimated that lower than 5% of Tesla house owners could be dissuaded from shopping for one other Tesla due to Musk’s political actions. However the poor fame may damage the corporate’s backside line, he mentioned.
“If you’re promoting a mass market automobile and you’re taking a political affiliation like this, there’s a draw back to it,” Ives mentioned.
Already Musk has misplaced favor with many shoppers he as soon as appealed to, together with Tesla driver Dan Bateman, 75.
Bateman, a retired Diamond Bar resident who has pushed a Tesla for 5 years, mentioned he’s not proud of the picture the automobile portrays. He identifies politically as center-left and needed an electrical automobile to assist get gasoline automobiles off the highway, he mentioned.
“My unique assertion was that I’m doing my small half towards ending local weather change,” Bateman mentioned. “There wouldn’t be electrical automobiles on the highway with out Elon and it looks as if he’s turned his back on that. I really feel like I’ve been betrayed.”
Quite a lot of bumper stickers are accessible on-line for Tesla drivers who wish to present their disapproval of Musk and his politics.
(Peter Morgan / Related Press)
Bateman doesn’t plan to promote his Tesla, however he did put on a bumper sticker that reads, “I purchased this earlier than we knew Elon was loopy.”
A number of related bumper stickers are accessible on-line for Tesla drivers who wish to present their disapproval. “That is my final Tesla,” considered one of them says.
Bateman mentioned he’s annoyed by Musk’s actions, however the resale worth of his automobile has plummeted an excessive amount of to make sense to promote. He bought it for about $90,000, he mentioned, and estimates it’s now price $13,000.
“I can’t afford to scrap it,” he mentioned. “I simply really feel so dissatisfied by him.”
Tesla has been essentially the most distinguished possibility amongst electrical autos for years and was as soon as the one mainstream possibility, mentioned Sam Abuelsamid from the transportation expertise firm Telemetry Insights. Early EV adopters who have been passionate in regards to the local weather change facet have been possible drawn to the model, he mentioned.
“Individuals who purchase EVs have been considerably extra left-leaning politically,” Abuelsamid mentioned. “They’re typically extra inclined to consider that local weather change is a matter and that we have to do one thing about it.”
Like Bateman, many Tesla drivers really feel that Musk has overlooked the mission that attracted them to the autos within the first place, he mentioned.
Bateman mentioned he’s annoyed by Musk’s actions, however the resale worth of his automobile has plummeted an excessive amount of to make sense to promote. He bought it for about $90,000, he mentioned, and estimates it’s now price $13,000.
(Gina Ferazzi / Los Angeles Instances)
“As they’ve seen Musk present his true colours of his private politics and his private attitudes, they’ve determined that this isn’t somebody that they wish to assist with their {dollars},” Abuelsamid mentioned.
Musk’s public persona is creating issues for all Tesla drivers, not simply those that oppose DOGE and the Trump administration. A Cybertruck driver, who requested to not be named out of concern of retaliation, mentioned somebody not too long ago left a crude message drawn in mud on his automobile.
The 44-year-old Ventura County resident ordered his Cybertruck in 2019, simply days after preorders turned accessible. He obtained it final September and mentioned he by no means had political motivations for making the $130,000 buy.
“Musk goes to do what he needs and what he thinks is correct and I’m not essentially judging him for that,” the Cybertruck driver mentioned. “However he’s alienating a giant portion of shoppers and probably leading to backlash towards current prospects.”
He worries about his truck being broken when he leaves it parked for lengthy intervals, however he doesn’t really feel ashamed to drive it round.
“I didn’t purchase it as a political image,” he mentioned. “It’s not like I’ve political issues on the truck or something like that. So why ought to I really feel embarrassed?”
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